A lot of people are scratching their heads about the current real estate market, in Dallas and around the country. People wonder: should I be trying to buy new North Dallas real estate or should I just get a home equity line and make improvements on my existing home?
It's not an easy question, and the right answer is not going to be the same for everyone. Of course if you hate the home you are in right now or do not currently own a home, now is a great time to look for a new homes North Dallas. Interest rates are not too high and there are a lot of sellers who are getting eager to sell. That means you can get a great deal on a Dallas new home.
On the other hand, if you really like where you are living, you'll want to think twice before you consider moving. You might not be able to find a house in as nice a location, in the same school district, or with all the amenities you want. In that case, if there are improvements you would like to make to the home that would make you a lot happier to live there, you could look into a home equity loan (assuming you have equity in your home) and leave the North Dallas real estate buying to others.
On the other hand, you might want to look into some investment real estate if you've got some extra money lying around and are happy with the home you now live in.
Using your home as collateral on a loan for home improvements is a good way to get a lot of cash at a decent interest rate. But, a word of warning: you are using your home as collateral, and defaulting on a home equity loan is still serious business, especially in parts of the country where home prices are actually falling (Texas is not one of those places, yet).
A recent article in the Dallas Morning News brought this point home by saying that, according to Moody's, the number of people who defaulted on home equity loans went up 11 percent for the quarter ending in April compared to the same time last year. Delinquent loans represent about seven percent of the pool of home equity loans, the investment service said.
The article reiterated that it is important not to use your home as an ATM. Also, be an informed consumer; before signing up for one of these loans make sure you are clear on the terms such as upfront costs, closing costs, fees, interest rates, balloon payments and other payments that might be included in your loan.
If you go into a loan with your eyes open, you don't have to turn into a stastistic. And if you decide what you want to do to your old home is more than you can afford even with a home equity loan, consider buying a North Dallas new home. Some people don't like the hassle of remodeling and now's a great time to find a gem for a great deal.
Friday, September 08, 2006
Tuesday, July 25, 2006
New Homes on Tap for North Dallas
If you're looking for North Dallas Real Estate, now is the perfect time if you want new construction.
According to the Dallas Business Journal, more than 20,000 new homes are on tap for the bustling U.S. 380 corridor in and around Denton, Texas. This city 36 miles northwest of Dallas is expected to nearly double in the number of households between 1995 and 2025.
Two major master-planned communities are part of this North Dallas Real Estate boom. Aperion is planning a 10,000-home project in the works and is under contract to buy Hunter Ranch, a 3,300-acre development in southwest Denton.
The Stratford Company, a Dallas-based developer, is planning the Cole Ranch project, which should have 7,500 to 10,000 homes on 3,500 acres and will include single family homes and apartments.
There are some smaller developments on tap, too, for those looking for a smaller North Dallas community to call their own. Highland Capital Real Estate Advisors is working on The Hills of Denton, a 1,800-home, 2,000-acre development. And Allegiance Development is working on Rayzor Ranch, a 412-acre mixed-use development.
While these project will naturally take a long time to develop to their full size, now is a great time to be looking for a piece of North Dallas Real Estate to call your own!
According to the Dallas Business Journal, more than 20,000 new homes are on tap for the bustling U.S. 380 corridor in and around Denton, Texas. This city 36 miles northwest of Dallas is expected to nearly double in the number of households between 1995 and 2025.
Two major master-planned communities are part of this North Dallas Real Estate boom. Aperion is planning a 10,000-home project in the works and is under contract to buy Hunter Ranch, a 3,300-acre development in southwest Denton.
The Stratford Company, a Dallas-based developer, is planning the Cole Ranch project, which should have 7,500 to 10,000 homes on 3,500 acres and will include single family homes and apartments.
There are some smaller developments on tap, too, for those looking for a smaller North Dallas community to call their own. Highland Capital Real Estate Advisors is working on The Hills of Denton, a 1,800-home, 2,000-acre development. And Allegiance Development is working on Rayzor Ranch, a 412-acre mixed-use development.
While these project will naturally take a long time to develop to their full size, now is a great time to be looking for a piece of North Dallas Real Estate to call your own!
Tuesday, June 13, 2006
Small-Town Life Near the Big City
It's wonderful to live near a big city. There are so many cultural opportunities, shopping areas, eating opportunities and entertainment districts that there's always something new to discover.
But, let's face it, living IN the big city is not so much fun. There's the constant traffic, noise and congestion. It takes a long time to get anywhere. And for a lot of people, a big city like Dallas doesn't exactly feel like home.
That's why a lot of people choose to live in the suburbs of north Dallas instead of living in the city itself. Dallas real estate can be hard to come by; in the suburbs it is easier to find a home that you will love.
There are many different cities to choose from in north Dallas, including:
Living in the north Dallas suburbs can put you closer to your work, provide better schools for the kids and allow you to live in a place that feels more friendly and small town, all while being just a short distance from the big city.
The Dallas Morning News recently published a story about people moving back to the downtown areas of some of the north Dallas suburbs because they like the small town, historical value of these cities and being close to everything they need. Some people love living in the city, but others would rather have the best of both worlds, living in a smaller town that's very close to the city.
To find out more about which Dallas suburb could be right for you, contact a North Dallas real estate expert. Whether you're looking for Dallas real estate or North Dallas real estate, we can help you find the home of your dreams in the best location for you.
But, let's face it, living IN the big city is not so much fun. There's the constant traffic, noise and congestion. It takes a long time to get anywhere. And for a lot of people, a big city like Dallas doesn't exactly feel like home.
That's why a lot of people choose to live in the suburbs of north Dallas instead of living in the city itself. Dallas real estate can be hard to come by; in the suburbs it is easier to find a home that you will love.
There are many different cities to choose from in north Dallas, including:
- Addison, Texas
- Allen, Texas
- Carrollton, Texas
- Frisco, Texas
- McKinney, Texas
- Plano, Texas
- Richardson, Texas
Living in the north Dallas suburbs can put you closer to your work, provide better schools for the kids and allow you to live in a place that feels more friendly and small town, all while being just a short distance from the big city.
The Dallas Morning News recently published a story about people moving back to the downtown areas of some of the north Dallas suburbs because they like the small town, historical value of these cities and being close to everything they need. Some people love living in the city, but others would rather have the best of both worlds, living in a smaller town that's very close to the city.
To find out more about which Dallas suburb could be right for you, contact a North Dallas real estate expert. Whether you're looking for Dallas real estate or North Dallas real estate, we can help you find the home of your dreams in the best location for you.
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